AGREEMENT AND PLAN OF MERGER Among ORION CAPITAL CORPORATION, ROYAL GROUP INC. and NTG ACQUISITION CORP. Dated as of July 12, 1999Merger Agreement • July 16th, 1999 • Orion Capital Corp • Surety insurance • Delaware
EXHIBIT 4 --------- STOCK OPTION AGREEMENT STOCK OPTION AGREEMENT, dated as of July 12, 1999 (the "Agreement"), between ROYAL GROUP INC., a Delaware corporation (the "Grantee"), and ORION CAPITAL CORPORATION, a Delaware corporation (the "Grantor")....Stock Option Agreement • July 16th, 1999 • Orion Capital Corp • Surety insurance • Delaware
July 16, 1999 To our Stockholders: On July 12, 1999, Royal Group Inc. ("Royal US"), a Delaware corporation and a wholly owned subsidiary of Royal & Sun Alliance Insurance Group plc ("Royal plc"), NTG Acquisition Corp., a Delaware corporation and a...Merger Agreement • July 16th, 1999 • Orion Capital Corp • Surety insurance
